OurFestive SeasonLine-up

BRICS-Brazil

15 March 2016 10:00 AM

A Million Cries to Kick out Brazil's President
Protesters demanded that Dilma Rousseff step down amid allegations of massive corruption and a sputtering economy. There was a volatile mixture over the weekend, with an estimated one million people marching in the streets across Brazil against President Dilma Rousseff's government and demanding she resign. State prosecutors on Wednesday charged Brazil’s former President Luiz Inácio Lula da Silva with hiding his ownership interest in a beachfront apartment, adding to the growing legal woes of Brazil’s most prominent political figure. Investigations ordered into dozens of politicians linked to a massive corruption scandal at state oil giant Petrobras is sending shock waves through Brazil's governing coalition and South America's largest economy. Brazil's Supreme Court on Friday green lighted investigations into a who's who of the country's politics. Brazil’s economic gloom deepened on Wednesday when credit rating agency Moody’s downgraded the recession-hit nation’s sovereign debt status to junk. Moody’s said the outlook for Brazil’s issuer and bond ratings was negative due to the prospect of further deterioration in debt ratios amid an economic contraction.